U.K. Sets Tax Breaks to Encourage Shale-Gas Exploration

By

Selina Williams

Updated March 20, 2013 5:19 p.m. ET

LONDON--The U.K. government unveiled a series of proposed tax breaks it hopes will encourage shale-gas exploration and help Europe's largest consumer of natural gas replicate the North American energy boom.

Shale gas has helped transform the U.S. economy by lowering the cost of energy for businesses and consumers, benefits that Britain's Conservative-led government believes could spur much-needed growth here.